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DEBT (Tables)

3 Months Ended

May 01, 2021

Debt Disclosure [Abstract]

Schedule of Line of Credit Facilities [Table Text Block]

The table below presents the components of the Company’s ABL Credit Facility:

			May 1, 2021						January 30, 2021						May 2, 2020
			(in millions)
Credit facility maximum			$	360.0					$	360.0					$	360.0
Borrowing base (1)			330.4						282.2						329.1
Outstanding borrowings			196.9						169.8						234.6
Letters of credit outstanding—standby			7.4						8.2						6.2
Utilization of credit facility at end of period			204.3						178.0						240.7
Availability (2)			$	126.1					$	104.2					$	88.4
Interest rate at end of period			4.0		%				4.2		%				3.4		%

			First Quarter 2021						Fiscal 2019						First Quarter 2020
Average end of day loan balance during the period			$	210.3					$	216.2					$	237.2
Highest end of day loan balance during the period			260.6						275.6						272.2
Average interest rate			4.0		%				3.8		%				3.1		%

____________________________________________

(1)Lower of the credit facility maximum or the total borrowing base collateral.

(2)The sub-limit availability for letters of credit was $42.6 million at May 1, 2021, $41.8 million at January 30, 2021, and $43.8 million at May 2, 2020.

Schedule of Long-term Debt Instruments [Table]

The following table summarizes the current and long-term portion of the long-term debt:

			May 1, 2021
			(in thousands)
Term Loan principal			$	80,000
Less: Unamortized discount, net			(1,052)
Less: Unamortized debt issuance costs, net			(1,152)
Term Loan, net			77,796
Less: Current portion, net			(3,270)
Long-term debt, net			$	74,526

Schedule of Maturities of Long-term Debt

Future principal payments of long-term debt due in each of the next four years subsequent to May 1, 2021 are as follows:

Period			Future Principal Payments
			(in thousands)
Remainder of 2021			$	3,000
2022			5,500
2023			7,500
2024			64,000
2025			—
Total future principal payments			$	80,000

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Tabular disclosure of information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

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- Definition

Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line.

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-Publisher FASB
-Name Accounting Standards Codification
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Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented.

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